Michael Croitoru, Mortgage Agent
201 - 766 Old Hespeler Road N1R 8H3 Cambridge, ON, Canada

Here is a great article on why a pre-approval does not guarantee your mortgage approval. 'An experienced mortgage broker can often tell whether or not your mortgage approval would be at risk and can help you assess when it is a risk worth taking. They can tell you the potential concerns so you can make an educated, informed decision to proceed with your offer to purchase.'

Set goals for yourself, and no matter what happens, never give up. Success could be waiting just around the corner.

Making the decision, and starting the process of buying a new home or investment property is the hardest part. That is why I'm here. To assist and educate you on all things pertaining to your mortgage. From rates to renewals, first contact to closing; I'll be with you every step of the way, ensuring you receive the best product for your particular situation. Contact me day or night to discuss your home-ownership goals. I work for you, not the bank! #mortgagebroker #cambridge #guelph #mikeknowsmortgages #letsbuildyourwealth #cambridgerealestate #guelphrealestate

There are many benefits to paying off a mortgage early, these can include interest savings, credit expansion, building security, along with future income protection; and if creating a passive income stream is on your to-do list? look no further- renting out a property that is mortgage-free can be a great way to add thousands to your monthly positive cash flow! This money can be used to fund the purchase of other income-producing assets, dreams of world travel, new vehicles, o...Continue reading

"While many borrowers did take advantage of deferral relief programs during the pandemic, their payments resumed as normal when the programs expired. Scotiabank, for example, said 99% of mortgage borrowers whose deferrals have expired are current on their mortgage payments." https://www.wealthprofessional.ca//canadians-contin/336459

For many Canadians, the purchase of a home is likely the largest financial decision they will make in their lifetime. To help realize the dream of homeownership, you'll want to work with a professional mortgage broker who will offer sound, professional advice and provide a mortgage solution that matches your needs and circumstances. It is a mortgage broker's job to stay ahead of the game, learning about the array of products available that best suit the clients’ needs. Genera...lly, the broker is paid a referral fee by the lender, not by their client. Lending institutions will usually provide their best interest rates to the broker ensuring that, as the homebuyer, you don’t have to negotiate to get the best rate. By assessing your needs, a broker will carefully weigh important decisions, such as lump-sum payments and fixed versus variable rates, before they are made. A broker will also guide you through the process of completing and submitting mortgage applications and supporting documentation required by the lender. Mortgage brokers are professionals. They must maintain a high level of professionalism and keep up with all of the offerings and developments within the mortgage space. Mortgage brokers should have an established place of business. They have chosen mortgage brokering as their career and demonstrate their long-term commitment to the industry. In order to best meet a consumer’s needs, mortgage brokers have a wide array of products from which to choose big banks, private sources, independent lenders, etc. And, a lender will deal with a broker only after a thorough selection process, checking references, interviewing, and obtaining a copy of their broker license. In addition to the above points, and for obvious reasons, be sure that you have a good interpersonal rapport with the broker you choose. It’s all about trust, credibility, and ultimately the relationship. In short, consumers choose a mortgage broker for four reasons: choice, advice, service, and savings. By considering these factors, you’ll be able to make an informed decision, comfortably. #mikeknowsmortgages #letsbuildyourwealth #whychooseabroker

Use the power of #compoundinterest to your advantage; It can be a great tool, especially for young adults who are just entering the workforce and would eventually like to become homeowners. Investing early, and investing wisely could be the determining factor years down the road. #downpaymentstrategy #mikeknowsmortgages #InvestEarly

Another great review added to Google! I am very thankful to my clients who take the time to let others know of their experience with me. This particular client just happens to be family; I'm thrilled to be able to give advice and assist those closest to me with their mortgage needs and financial goals. #mikeknowsmortgages #mortgageadvisor #guelphmortgages #cambridgemortgages #letsbuildyourwealth #investing #mortgageagent #brokerlife #anothernewinvestor

Four short years ago; thanks to a lot of work and sacrifice, my little business partner and I purchased our first rental property. Since that day, in terms of the down payment, we have seen a 1300% ROI and the property continues to provide a source of passive income. This was the single best financial decision I have made to date. It has paved the way for many more opportunities and will one day be passed down to ensure, without a doubt, my children are able to become homeown...ers. Although investing can seem daunting, the end result is worth the 'risk' and effort. Real estate can build wealth, increase cashflow, secure retirement freedom and help create a legacy for you and your family. Like the investor and multibillionaire, John Paulsen said "If you don't own a home, buy one. If you own a home, buy another one. If you own two homes, buy a third. And lend your relatives the money to buy a home" One day, you will be very thankful you did. If you have any questions related to investing, the real estate market, mortgages or insurance - I am always happy to share my knowledge and experience. Reach out with any questions you may have. 519-781-5564 https://www.brokerline.ca

Persistence pays off. Set a goal, and DO NOT STOP until you reach it!

Below you will find the five types of mortgages and how they can work for you. If you have any questions related to your mortgage, financial situation, or homeownership goals - contact me for a free consultation. I am always happy to assist friends and clients with expert advice you can trust. OPEN MORTGAGES If you want to make large payments on your mortgage or pay off the entire mortgage without penalty, then an open mortgage is for you. An open mortgage offers maximum flex...Continue reading

Landlords and tenants now have the option to report rent payments to the credit bureau. This could be good news for first-time buyers.

If you have the income and credit but no down payment, there are still creative ways to attain a mortgage approval. Ask me how 519-781- 5564.

A mortgage refinance can be a great tool when used correctly. Feel free to reach out with any questions you may have, I am always happy to help. #mikeknowsmortgages #cambridge #cambridgemortgages #guelph #guelphmortgages #hamilton #hamiltionmortgages #letsbuildyourwealth #mortgageagent #mortgagealliance

Sometimes people overestimate what can be acheived in 1 year, but underestimate what can be achieved in 10. #hardworkpaysoff

3 Reasons you should use a mortgage broker vs going to your bank: 1. Better Rates Because lenders compete for our business, we get access to discounted rates based on volume and we pass these savings directly on to you. 2. Access to more lenders - When you apply for a mortgage at a bank or credit union, you only have access to the products they offer in house. With a mortgage broker, you get access to dozens of lenders... . 3. Our services are free we are compensated by the lender. See more

I hope you are all having a great weekend with friends and family!

The CRB (Canada Recovery Benefit) is now in place to assist employed or self employed individuals who do not qualify for employment insurance benefits and are directly affected by Covid-19. If you have any questions related to your financial situation or mortgage, please reach out.

From first contact to closing, the focus is to support my clients through the mortgage process while ensuring their health & safety. With the necessary tools & technologies integrated into my business, I am able to assist you virtually with all of your mortgage needs. Easily apply online in minutes! https://www.brokerline.ca/

5 reasons you need to use a Mortgage Alliance Broker when it comes to your mortgage. #MortgageBrokers #BuyingAHouse #MortgageAlliance #M3Group

"Trial and error and a lot of determination"

Life insurance is an importance piece to the financial planning puzzle.

Truth be told. The combination of massive depreciation, interest on the financing and the negative impact on your debt service can make the purchase of a new, flashy vehicle a financial disaster. Purchasing appreciating assets should be a top priority when it comes to personal money matters, and a much better route to prove your financial education.

From bad credit to bankruptcies, we can help get you approved. Call Mike! 519-781-5564 lic#13121

For 17 years, Hunter Brothers Farm in Florenceville-Bristol, N.B., has created massive corn field mazes. This year’s is in the form of Terry Fox, to mark the 35th anniversary of his Marathon of Hope. Photo courtesy of Hunter Brothers #terryfox

It's important to weigh all of your options and consider future scenarios when making any financial decision.

Congratulations team! Mortgage Alliance is CMA’s Gold Winner of the National Broker Network of the Year award!! This award recognizes the most outstanding natio...nal broker network that has displayed excellence, commitment to brokers, agents and support staff and the mortgage industry over the past 12-18 months. Congratulations everyone! This is your accomplishment and a result of your hard work and dedication. #MortgageAwardsCA #MortgageAlliance #M3Group

Setting a world record never looked so beautiful Athletes Petar Loncar and Veso Ovcharov, together with their teammate Ondrej Prochazka set a triple synchronized infinity tumbling record amongst the stunning hot air balloons of Cappadocia, Turkey

Hexo Corp and Molson Coors are gearing up to release their new joint venture product line of cannabis infused drinks. Hexo's stock is trading 90% lower than it's 2019 high of $10.48. This is a good chance for growth investors to get in on a stock with great upside potential. Also, Apple is set for a 4 for 1 stock split on August 31st. The share price has ticked steadily higher since the announcements of the record setting $2 trillion dollar valuation and the stock split. Thi...s is another company set for long term growth with tremendous upside potential. As always, if you have any questions related to mortgages or investing, I'm here to help. #letsbuildyourwealth #mikeknowsmortgages

Covid -19 did not destroy this year's spring market - it mostly delayed it. With many mortgagors coming out of deferral, home prices are still soaring. Just three months ago CMHC predicted a slide of up to 20%. This is another good reason to do your own homework and trust logic.

"The very best thing you can do for the whole world is to make the most of yourself"

The time of company pension plans enabling us to live the life we deserve at retirement age is long gone. Building wealth through real estate and cash value life insurance is now the way ensure a strong financial future. If you do not own a home, buy one! If you own a home, buy another one! If you own five homes, go for six! If you don't know where to start or need some advice, reach out with any questions you may have. Our team is here to help! #letsbuildyourwealth #mikeknowsmortgages #investsmart

With more great news coming in to effect, It looks like now is the best time in history to secure a mortgage! We have Insured purchase rates from 1.84% OAC* In addition, the major Banks are lowering their 5-year fixed rates which will cause the qualifying rate to drop from 4.94% to 4.79%. This is good news for anyone in need of mortgage financing!

Whether in work, business, or personal relationships "never stay in a place where no one can see your value"

Friends, if you're looking to purchase a home and need to secure financing, we have rates starting at 1.84% OAC* We also have bad credit and cash back options. Contact me for details. When you have the right broker, you receive the right mortgage! ... Lic#13121

Friends, mortgage rates are hitting record low's! With rates starting at 1.95%, I may be able to help you lower your monthly payments and at the same time free up cash to invest, renovate, or to spend as you wish. I always recommend paying off high interest debt and purchasing assets, not liabilities.... If you just have questions about your mortgage, I'm here to help . DM or call me at 519-781-5564. My services are free. Lic#13121 Thanks!

As expected, the Bank of Canada maintained their overnight lending rate. They announced it will not be increasing until the inflation objective is achieved. Click below to read the full announcement. Interest rates are still at record lows and now more than ever Canadian mortgage consumers should have a trusted broker on their side. If you have any questions don’t hesitate to contact your Mortgage Alliance Professional, our services are free. https://www.bankofcanada.ca//07/fad-press-release-2020-07/

Happy Canada Day from our family to you and yours!

Some good news after CMHC's mortgage tightening guidelines.

CMHC is making some changes that will affect the market. Reach out with any questions you may have.

Are you or your clients thinking of purchasing a home and need money for closing costs, renovations, furniture or a much needed family vacation? Consider the benefits of a cash back mortgage. Receive up to 3% cash back at closing OAC*. Contact me directly for details.

Take 60 seconds to fill out the mortgage quiz below to see if you qualify to save thousands on your mortgage. Purchases, renewals, refinances, debt consolidation, self employed, new to country, home renovations, investments, damaged credit. We work with all circumstances. (OAC) https://ca.surveygizmo.com/s3/50076454/MORTGAGE-QUIZ

My focus is to support my customers in these stressful times while ensuring their health & safety. With the necessary tools & technologies integrated in my business processes, I am able to assist you virtually with all your mortgage needs.

We have added a number of different mortgage calculators to our website. They can assist you in making more informed decisions when house hunting or deciding if a refinance is the right option for you. Click the link below for instant access. https://www.brokerline.ca//cambridge-guelph-mortgage-calcu

Even in uncertain times it’s important to look ahead to the future. Here are 4 ways first-time buyers can get assistance to help achieve their goals of home ownership.

Damaged credit does not mean your mortgage application will be denied. It just means your monthly payments may be higher until things are improved. This is a small price to pay when compared to the financial gains that be made through owning real estate.

If you own a home with reasonable equity, you may be able to purchase a rental property and begin building a solid financial future through real estate. All it takes is utilizing the power of leverage. Contact me today to unlock your equity or get an answer to any mortgage related questions you may have.

Going through this covid pandemic makes it easy to remember what is truly important I hope you are all staying inside and in doing so, staying safe. And to all of those still working, providing an essential service, thank you!

We’re here for you, even when the bank might not be. Contact us today with any questions or concerns you may have!

Hopefully this helps anyone needing assistance navigating the CERB and E.I.

Navigating temporary job loss due to Covid 19.

33% of the mortgage market last year was made up of first-time home buyers. If you fall into this group for 2020, here are some averages on what amount of capital is needed to get into your first home. Although these numbers can seem daunting at first glance, there are techniques that can be applied and programs available to help with the initial costs of owning your dream home. Mortgage rates are extremely low and now could be the time to lock in a rate. Remember my services are free, I work for you not the banks! Contact me today with any questions or to discuss your financial goals, I would be happy to help! https://www.brokerline.ca//cambridge-guelph-mortgage-calcu

Insured Mortgage Rate Drop - 2.49% Refinancing Rate Drop - 2.94% Restrictions Apply, OAC! License #13121 When you're looking to purchase, renew or refinance an existing mortgage, we help streamline the process while ensuring you gain access to the best lending products on the market. With approvals from over 60 lenders, Mortgage Alliance has an approval for almost any situation. Contact me today to discuss your investment needs!

https://www.canadianmortgagetrends.com//are-changes-to-th/

https://www.bnnbloomberg.ca/pattie-lovett-reid-8-steps-towa